FINASGI
ActiveSummary
FINASGI has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€174,021) and a net result of €8,077. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 14% of 15872 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▼-36
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.76 against 0.74 in 2023; short-term debt: 129.6% and cash: 7% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-31.8%
Return on assets
1.5%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 15872 sector peers (2024).
NBB · sector comparisonPosition among 15872 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
425 d late
2022
777 d late
2021
31 d late
2020
170 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 259 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€174,021▲ 4.4%
2023 · -€182,098
Total assets
€547,266▼ 0.3%
2023 · €548,640
Net result
€8,077▼ 76.4%
2023 · €34,184
Working capital
-€171,276▲ 6.5%
2023 · -€183,248
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€3,574-€3,464€81,567€34,196▼ 58.1%€8,077▼ 76.4%
Net result€3,523within the sector's middle half-€3,544below the sector's middle half€80,648above the sector's middle half€34,184above the sector's middle half▼ 57.6%€8,077within the sector's middle half▼ 76.4%
Equity-€293,385below the sector's middle half▲ 1.2%-€296,930below the sector's middle half▼ 1.2%-€216,282below the sector's middle half▲ 27.2%-€182,098below the sector's middle half▲ 15.8%-€174,021below the sector's middle half▲ 4.4%
Total assets€55,022below the sector's middle half▼ 7.6%€41,740below the sector's middle half▼ 24.1%€441,713above the sector's middle half▲ 958%€548,640above the sector's middle half▲ 24.2%€547,266above the sector's middle half▼ 0.3%
Debt€348,407▼ 2.3%€338,670▼ 2.8%€657,995▲ 94.3%€730,738▲ 11.1%€721,286▼ 1.3%
Working capital-€306,217below the sector's middle half▲ 2.4%-€305,868below the sector's middle half▲ 0.1%-€221,326below the sector's middle half▲ 27.6%-€183,248below the sector's middle half▲ 17.2%-€171,276below the sector's middle half▲ 6.5%
Solvency-533.2%below the sector's middle half▼ 34.7pp-711.4%below the sector's middle half▼ 178.2pp-49.0%below the sector's middle half▲ 662.4pp-33.2%below the sector's middle half▲ 15.8pp-31.8%below the sector's middle half▲ 1.4pp
Current ratio0.09below the sector's middle half=0.06below the sector's middle half▼ 0.030.66below the sector's middle half▲ 0.590.74below the sector's middle half▲ 0.090.76below the sector's middle half▲ 0.01
Return on assets (ROA)6.4%within the sector's middle half▲ 16.6pp-8.5%below the sector's middle half▼ 14.9pp18.3%above the sector's middle half▲ 26.7pp6.2%within the sector's middle half▼ 12.0pp1.5%within the sector's middle half▼ 4.8pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 76% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €547,266
Fixed assets
€9,426 ▼ 29.2%
Current assets
€537,840 ▲ 0.5%
Key figures and ratios
EBITDA
€11,971▼
2023 · €38,090
Cash flow
€11,971▼
2023 · €38,078
Debt to equity
-4.14▼
2023 · -4.01
Debt ≤ 1 year
€709,116▼
2023 · €718,568
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 517 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92% are still going.
- Small
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.5%
went bankrupt
3.9%
stopped otherwise
92%
still going
A further 1.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 517 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,019 | €3,894 | €3,894 | €3,894 | €3,894 | = |
| Other operating charges640/8 | - | €780 | €135,939 | €0 | - | - |
| Non-recurring operating charges66A | - | €372 | €0 | - | - | - |
| Gross operating margin9900 | €7,593 | €1,582 | €221,399 | €38,090 | €11,971 | ▼ 68.6% |
| Operating profit (loss)9901 | €3,574 | -€3,464 | €81,567 | €34,196 | €8,077 | ▼ 76.4% |
| Financial charges65/66B | - | €81 | €918 | €12 | €0 | ▼ 100% |
| Recurring financial charges65 | €50 | €81 | €918 | €12 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €3,523 | -€3,544 | €80,648 | €34,184 | €8,077 | ▼ 76.4% |
| Profit (loss) for the period9904 | €3,523 | -€3,544 | €80,648 | €34,184 | €8,077 | ▼ 76.4% |
| Profit (loss) for the period to be appropriated9905 | €3,523 | -€3,544 | €80,648 | €34,184 | €8,077 | ▼ 76.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55,022 | €41,740 | €441,713 | €548,640 | €547,266 | ▼ 0.3% |
| Fixed assets21/28 | €25,002 | €21,108 | €17,214 | €13,320 | €9,426 | ▼ 29.2% |
| Tangible fixed assets22/27 | €25,002 | €21,108 | €17,214 | €13,320 | €9,426 | ▼ 29.2% |
| Land and buildings22 | - | €21,108 | €17,214 | €13,320 | €9,426 | ▼ 29.2% |
| Current assets29/58 | €30,020 | €20,632 | €424,500 | €535,320 | €537,840 | ▲ 0.5% |
| Stocks and contracts in progress3 | €9,000 | €0 | - | - | - | - |
| Stocks30/36 | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €20,630 | €20,528 | €386,152 | €497,226 | €499,746 | ▲ 0.5% |
| Trade receivables40 | - | €20,528 | €386,152 | €497,226 | €499,746 | ▲ 0.5% |
| Other amounts receivable41 | - | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €390 | €104 | €38,348 | €38,094 | €38,094 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55,022 | €41,740 | €441,713 | €548,640 | €547,266 | ▼ 0.3% |
| Equity10/15 | -€293,385 | -€296,930 | -€216,282 | -€182,098 | -€174,021 | ▲ 4.4% |
| Contributions10/11 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Capital10 | - | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Issued capital100 | - | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Profit (loss) carried forward14 | -€358,385 | -€361,930 | -€281,282 | -€247,098 | -€239,021 | ▲ 3.3% |
| Amounts payable17/49 | €348,407 | €338,670 | €657,995 | €730,738 | €721,286 | ▼ 1.3% |
| Amounts payable within one year42/48 | €336,237 | €326,500 | €645,825 | €718,568 | €709,116 | ▼ 1.3% |
| Trade debts44 | €26,130 | €19,443 | €327,781 | €412,184 | €416,732 | ▲ 1.1% |
| Suppliers440/4 | - | €19,443 | €327,781 | €412,184 | €416,732 | ▲ 1.1% |
| Other amounts payable47/48 | - | €307,057 | €318,044 | €306,384 | €292,384 | ▼ 4.6% |
| Accrued charges and deferred income492/3 | - | €12,170 | €12,170 | €12,170 | €12,170 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,523 | -€3,544 | €80,648 | €34,184 | €8,077 | ▼ 76.4% |
| + Depreciation and write-downs630 | €4,019 | €3,894 | €3,894 | €3,894 | €3,894 | = |
| Operating cash flow (approximation) | €7,542 | €350 | €84,542 | €38,078 | €11,971 | ▼ 68.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€286 | €38,244 | -€254 | €0 | ▲ 100% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 425 days late
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 777 days late
2022
31-12
Financial
Back to profitnet €80,648
Net result €80,648 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
17-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 170 days late
2020
31-12
Financial
Back to profitnet €3,523
Net result €3,523 after 2 loss-making years.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 457 days late
2019
31-12
Financial
Weakest financial yearnet -€6,061
Net result drops to -€6,061, the lowest in the series; recovery starts the following year.
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 302 days late
2017
15-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 107 days late
2016
29-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 151 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Watermaal-Bosvoorde · 1 establishment unit since 1991
Ground area
3.2 ha
Building footprint
7,322 m²
Volume, LiDAR
125,390 m³
Parcel 21652E0030/00D002, Brussels · tallest building 21.0 m, ±6 floors. Linked by address, not a title deed.
187
companies at this address
See who is registered here
1 establishment unit
FINASGI SA
since 19912.053.452.188
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0030/00D002 | Brussels | 3.2 ha | 1 · 7,322 m² | 21.0 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 538 companies in sector 46120 we hold annual accounts for 305. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-06-1991
Fiscal year end31-12
Activities, NACEBEL 2025
46120Wholesale trade
46140Agents in the wholesale of industrial machinery, ships and aircraft
46820Wholesale trade
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.